WASHINGTON – The U.S. Department of Labor welcomed yesterday’s decision by the plaintiffs in Pizarro v. Home Depot to withdraw their petition for certiorari from the U.S. Supreme Court, ostensibly bringing the case to a close.The plaintiffs, participants in the Home Depot FutureBuilder 401(k) defined contribution retirement plan, had pursued a class action lawsuit challenging the plan’s administration. Home Depot prevailed at both the district court and court of appeals levels. Undeterred, plaintiffs’ counsel sought Supreme Court review.“This decision speaks volumes. The plaintiffs chose to abandon their petition rather than risk Supreme Court review after the Department of Labor urged the Court to hear the case and reject the plaintiffs’ legal theory,” said Solicitor Jonathan Berry. “The department made the facts clear: ERISA does not impose a special burden-shifting framework requiring defendants to disprove loss causation. Consistent with Supreme Court precedent, plaintiffs bear the burden of proving the essential elements of their claims, including loss causation.”The department advised the court in an amicus brief that the case warranted review, but only to reaffirm settled legal principles and reject the plaintiffs’ position. The department also warned that the plaintiffs’ proposed expansive reading of the Employee Retirement Income Security Act would fuel meritless litigation and impose unnecessary costs on plan sponsors – outcomes fundamentally at odds with ERISA’s goals of efficiency, predictability, and encouragement of employer-sponsored retirement plans.“This outcome should provide reassurance to the regulated community that the Department of Labor is committed to ending regulation by litigation and to defending ERISA as Congress intended,” said Assistant Secretary of Labor for Employee Benefits Security Daniel Aronowitz. “This result reflects a victory for common sense, sound legal doctrine, and the millions of American workers who rely on employer-sponsored retirement plans.”